Peter King: Benefits Extension, Wage Hike, Possible with Reforms

Republican Rep. Peter King said Sunday an extension of unemployment benefits for out-of-work Americans would be acceptable if there is some sort of offset to the cost offered by Democrats.

"I would like to find a way to get a compromise to extend unemployment insurance, at least for a brief period of time, but at the same time, the Democrats should make compromises," King said. Relaxing "burdensome regulations" on the economy, he said, is one example of concession that could lead to a deal.

"I'm not saying it has to be offset dollar-for-dollar, but there has to be some compromise coming from the Democrats," King added on CBS' "Face the Nation." "I don't want to have this permanent state of unemployment insurance, where we end up like Europe. The ultimate answer is not unemployment insurance. The ultimate answer is more jobs."

Regarding minimum wage, the New Yorker said he would consider an increase, "but it has to be coinciding with some of the burdens that are on employers."

Rep. Matt Salmon, R-Ariz., said on the same program that if Senate Majority Leader Harry Reid would offer a "reasonable idea" to offset the cost of extending unemployment benefits, "I think that he might find some people that are willing to talk to him."

On Monday, the Senate is scheduled to vote on a bipartisan bill that would extend benefits for the long-term unemployed by three months. The Obama administration has been pushing for lawmakers to support the measure.